DEXTForce Ventures’ early-stage investment in Modefi
Some weeks ago, we introduced DEXTForce Ventures, which aims to discover and research a few selected unique projects with a high potential for success and partner with them in a valuable way. DFV’s partners will benefit from the collective support of the DEXTForce community and get excellent deals and the best visibility in DEXTools’ ecosystem. In exchange, DEXForce members will benefit from early-stage investment rounds.
Modefi achieved a huge 2x oversubscription
Today we’re super excited to publicly announce our early-stage investment in Modefi, which has received huge demand and more than double oversubscription from participating DEXTForce members.
The DFV Committee secured an outstanding deal with Modefi and landed an exclusive spot in the venture round. Our collaborator TrustSwap, a DeFi platform that enables safe and customizable transactions for the global crypto ecosystem, joins among other key industry participants in the raise.
Next up is the Uniswap listing, which will take place on February 16, 2021.
Modefi, a decentralized layer 2 oracle aggregator
Before we jump into Modefi, let’s ensure you understand the basics. Large cryptocurrency networks, think of it as layer 1, are often slow and have scaling difficulties. Layer 2 is a secondary framework or protocol layered on top of such an existing network and aims to solve these problems.
An oracle is used to connect real-world data with the blockchain. It validates this external data and converts it into an understandable format for smart contracts so that external events can trigger them. Oracle validation is essential because external data can be compromised and manipulated.
By being an oracle aggregator, Modefi is not a competitor to other oracles. Instead, Modefi is a distribution and aggregation solution that complements and decentralizes existing and future oracles. Like Orion Protocol is an aggregator for liquidity, Modefi does the same for oracle data.
Modefi is the oracle solution of tomorrow
Today’s oracles are centralized, which negates the advantage of smart contracts and carries high risks. Furthermore, the integration of oracles requires specialized knowledge and is expensive. Modefi is going to solve this and adds many significant features like the following.
- A decentralized oracle marketplace that will connect third parties and exchange essential data autonomously
- On-Demand oracle services for uncommon one-time data requests by developers
- An innovative DeFi dashboard that brings tools, data, AI, API’s, and analytics to the next level for their users
- A DAO governance system that empowers the community to become the superior decision-maker for any upcoming changes
Modefi has several partnerships in the works, including top players in the Oracle space, so keep an eye on the company’s social media channels.
Please do your own research and visit Modefi’s website to learn more about the team, $MOD tokenomics and co.
- Website: https://modefi.io
- Docs: https://docs.modefi.io
- Medium: https://modefi.medium.com
- Pitch Deck: https://docsend.com/view/wciu8iqedxiqicqs
- Telegram: https://t.me/modefi_official
- Twitter: https://twitter.com/Modefi_Official
Join DEXTForce to benefit from future fundraising allocations
To qualify for upcoming DEXTForce Ventures fundraising rounds, you’ll need to become a DEXTForce member before the official announcement and eligible for the latest DEXTShare. Once you hold at least 100K DEXT, you can consider yourself a proud DEXTForce member. Please head over to this Medium post to learn more about DEXTShare.
We are already researching several upcoming crypto projects, selecting the best of the best, and can’t wait to finally present them to DEXTForce.
